Avocet Mining PLC

Avocet is a gold mining companythat was originally admitted to the Official List of the London Stock Exchange in 1996 and moved its listing to AIM in July 2002. In December 2011, Avocet was re-admitted to the official list of the LSE, which is now its primary listing.

Avocet's gold mining and exploration operations were historically located in South East Asia. In June 2009, Avocet acquired Wega Mining and, through it, operations in Burkina Faso, Guinea and Mali. Following this acquisition the decision was taken to divest of our South East Asian assets in order to focus on the highly prospective gold region of West Africa. In December 2010, an agreement was reached to sell our South East Asian assets for US$200 million.

The acquisition of Wega Mining brought Avocet 90% ownership of the Inata gold project in the Bélahouro district of northern Burkina Faso. Inata achieved commercial production following first gold pour on 20 December 2009. Production capacity was subsequently increased and the Inata mine produced 118,000 ounces of gold in 2013 and 86,000 ounces of gold in 2014.

The Bélahouro district is in the eastern part of the Birimian greenstone belt. Within this district, and in addition to Inata, Avocet acquired the exploration project at Souma among a total of eight exploration licences. Souma has a mineral resource of 0.78 million ounces. A mining permit application is currently being prepared for Souma.

Primary Activity

Mining CompanyGold